Swiss National Bank Sells 300 Shares of Loews Co. (NYSE:L)

Swiss National Bank lowered its holdings in Loews Co. (NYSE:L) by 0.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 558,961 shares of the insurance provider’s stock after selling 300 shares during the period. Swiss National Bank owned approximately 0.25% of Loews worth $44,186,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. UniSuper Management Pty Ltd increased its stake in Loews by 487.5% in the first quarter. UniSuper Management Pty Ltd now owns 14,483 shares of the insurance provider’s stock valued at $1,134,000 after acquiring an additional 12,018 shares during the last quarter. Bessemer Group Inc. boosted its stake in Loews by 453.9% in the first quarter. Bessemer Group Inc. now owns 18,429 shares of the insurance provider’s stock worth $1,443,000 after buying an additional 15,102 shares in the last quarter. Toronto Dominion Bank raised its stake in shares of Loews by 0.4% during the first quarter. Toronto Dominion Bank now owns 126,561 shares of the insurance provider’s stock worth $9,908,000 after acquiring an additional 450 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of Loews by 9.5% in the 1st quarter. 1832 Asset Management L.P. now owns 26,911 shares of the insurance provider’s stock worth $2,107,000 after acquiring an additional 2,326 shares during the last quarter. Finally, Magnetar Financial LLC purchased a new stake in shares of Loews in the 1st quarter valued at $4,449,000. Institutional investors own 58.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. StockNews.com cut shares of Loews from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Royal Bank of Canada upgraded Loews to a “moderate buy” rating in a research report on Friday, July 26th. Finally, Jefferies Financial Group dropped their price objective on Loews from $115.00 to $112.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st.

Insider Activity

In related news, Director Ann E. Berman sold 1,087 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total transaction of $88,460.06. Following the completion of the transaction, the director now owns 4,998 shares of the company’s stock, valued at $406,737.24. This trade represents a 17.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew H. Tisch sold 50,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $83.26, for a total value of $4,163,000.00. Following the completion of the sale, the director now directly owns 11,939,677 shares in the company, valued at $994,097,507.02. This trade represents a 0.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 213,587 shares of company stock valued at $17,586,460. Company insiders own 18.70% of the company’s stock.

Loews Stock Performance

Shares of NYSE:L opened at $84.49 on Thursday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.48. The company has a market cap of $18.40 billion, a price-to-earnings ratio of 11.22 and a beta of 0.82. Loews Co. has a 12 month low of $67.20 and a 12 month high of $84.68. The company has a 50-day moving average price of $80.14 and a 200-day moving average price of $78.29.

Loews Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 27th will be given a $0.0625 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.30%. Loews’s dividend payout ratio is currently 3.32%.

Loews Company Profile

Loews Corporation provides commercial property and casualty insurance in the United States and internationally. The company offers specialty insurance products, such as management and professional liability, and other coverage products; surety and fidelity bonds; property insurance products that include standard and excess property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto, surplus, and umbrella coverages.